Derivatives traders have become noticeably more conservative this month compared to last, new data shows.
What is GBTC? The Grayscale Bitcoin Trust, which trades under the ticker GBTC, is an investment vehicle that trades similar to a stock, with each share representing a specific amount of Bitcoin (BTC). Grayscale is a company providing various financial products. It originally launched GBTC in 2013. The product trades over the counter (OTC), although Grayscale aims to transform it into an exchange-traded fund (ETF). Historically, the price of Grayscale’s GBTC has traded notably above and below the equivalent value of the underlying BTC per share when compared with trading Bitcoin on crypto exchanges. This price difference is referred to as the GBTC premium. Is GBTC a good way to buy Bitcoin? GBTC essentially gives people outside of the cryptosphere the opportunity to own Bitcoin that is packaged similar to a stock under traditional United States regulations.
Bitcoin investment products, which include ETFs, ETPs and Grayscale’s GBTC, saw a third consecutive week of outflows.2237
CME futures data combines with numbers from derivatives platforms to suggest that investors are getting less fearful.2653
BTC and altcoins could continue to see selling, but a positive is that traders took shelter in stablecoins instead of completely exiting the crypto market.7458
Dark days for crypto institutional investors as contagion fears are magnified and asset prices tumble.9156
It's a polarizing world in institutional Bitcoin offerings this week as Grayscale's CEO remains convinced demand will return.7016
The discount brokerage has seen a steep decline in crypto-related revenue over the past 12 months as retail traders exited the market.2848
Storm clouds are slowly fading for Grayscale and its embattled Bitcoin institutional investment product, while frustration with U.S. regulators continues to mount.11978
Grayscale Investments' trust fund GBTC still trades at a 25% discount compared to Bitcoin's price.5833
More capital enters the flagship Grayscale trust as it eyes regulator approval to become an exchange-traded fund later this year.10648
The share repurchase program centers around Grayscale's Litecoin, Zcash and Horizen investment products.3267
The Securities and Exchange Commission is once again inviting the public to comment on whether a spot Bitcoin ETF presents a material risk to investors.9727
Uncertainty across the board means an unusual end to a bull market Q4 for Bitcoin this year, but a price floor may be closer than many think.24747
The cryptocurrency investment giant has also seen “massive” options volume as gold takes a fresh beating and institutions seek Bitcoin exposure.5471
Filing to convert GBTC now is “perfect timing,” the company’s ETF head argues, but concerns remain over the overall strength of the industry.15743